Democracy and the market: in search of balance
Democracy and the market: in search of balance

Summary/Abstract: Modern economic models cannot serve as a basis for future socio-economic development, because they oppose freedom and justice, the individual and society. The formation of a new economic model of development is now an urgent necessity for both developed countries and for developing countries. An alternative can be a new economic theory, which is the Concept of Economic Sociodynamics, assuming the equal interaction of individuals and society within the political procedures of pluralistic democracy. The article shows that the institutions of democracy are inseparable from the successful development of society; from the point of view of economic practice, the positions of the supporters of the two paradigms – the neo-liberal and the social-democratic, are analyzed; the opportunities and directions of Russia’s development are considered, taking into account the use of the country’s preserved potential, its historical, cultural and geographical features, the advantages of its geographical location, as well as the new conditions for world development.

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